AUD/JPY may rise 83 - 122 pips

97.83 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 97.83, expect 97.18 and 96.79.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (98.42) but below its 50 period moving average (98.56).

Supports and resistances

100.51 **

100.12 *

99.73 **

99.34

98.51 last

98.09

97.83 **

97.18 *

96.79 **

Number of asterisks represents the strength of support and resistance levels.